The documents reveal for the first time the breakdown of the $15.5-billion pledge that G7 countries and partners made in December to help Vietnam reach net-zero emissions by 2050
Group of Seven members offered Vietnam more than $300-million in grants to support plans to reduce coal use, documents seen by Reuters show, accounting for 2 per cent of a financial package made up mostly of costly loans that Hanoi has been reluctant to accept.
Donors have struggled in climate talks with other developing partners: an $8.5-billion plan for South Africa was adopted in 2021 but has yet to deliver concrete results, and Indonesia has delayed its investment plan linked to donors’ $20-billion pledges. Another $2.7-billion are in concessional loans at low interest rates, of which about two-thirds are provided by the EU, Germany and France, and the other third by the Asian Development Bank – with a small portion from Canada.
Washington and Hanoi upgraded their relations to the highest diplomatic status in September, and the United States has pledged $1-billion, almost exclusively in loans at market rates.
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